AutoZone, Inc. (NYSE:AZO) Shares Acquired by Forum Financial Management LP

Forum Financial Management LP boosted its stake in shares of AutoZone, Inc. (NYSE:AZO) by 2.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 138 shares of the company’s stock after purchasing an additional 3 shares during the quarter. Forum Financial Management LP’s holdings in AutoZone were worth $443,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Headlands Technologies LLC bought a new position in AutoZone in the 4th quarter valued at about $29,000. Flagship Wealth Advisors LLC acquired a new stake in shares of AutoZone in the 4th quarter worth approximately $32,000. Harbour Investments Inc. lifted its stake in shares of AutoZone by 42.9% in the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock worth $32,000 after acquiring an additional 3 shares during the period. Minot DeBlois Advisors LLC bought a new position in shares of AutoZone in the fourth quarter valued at approximately $45,000. Finally, Itau Unibanco Holding S.A. increased its stake in shares of AutoZone by 750.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 17 shares of the company’s stock valued at $54,000 after acquiring an additional 15 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

Analyst Ratings Changes

AZO has been the subject of a number of research reports. Roth Mkm increased their price target on AutoZone from $3,634.00 to $3,763.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. DA Davidson set a $4,192.00 price objective on AutoZone in a report on Friday. JPMorgan Chase & Co. raised their target price on AutoZone from $3,830.00 to $4,350.00 and gave the company an “overweight” rating in a research note on Friday. Evercore ISI set a $3,950.00 price target on shares of AutoZone in a research report on Monday, May 19th. Finally, BMO Capital Markets upped their price target on shares of AutoZone from $3,700.00 to $3,850.00 and gave the company an “outperform” rating in a report on Wednesday, March 5th. Two research analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $3,966.76.

Insiders Place Their Bets

In other AutoZone news, CEO Philip B. Daniele sold 2,000 shares of the business’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $3,800.01, for a total value of $7,600,020.00. Following the transaction, the chief executive officer now owns 163 shares in the company, valued at $619,401.63. The trade was a 92.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Domingo Hurtado sold 4,800 shares of the company’s stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $3,660.00, for a total value of $17,568,000.00. Following the completion of the transaction, the vice president now directly owns 159 shares in the company, valued at approximately $581,940. The trade was a 96.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,521 shares of company stock worth $42,177,331 in the last quarter. 2.10% of the stock is currently owned by corporate insiders.

AutoZone Price Performance

NYSE:AZO opened at $3,829.63 on Tuesday. The stock has a market cap of $64.27 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 1.86 and a beta of 0.44. AutoZone, Inc. has a fifty-two week low of $2,728.97 and a fifty-two week high of $3,916.81. The stock’s 50-day moving average is $3,692.06 and its two-hundred day moving average is $3,455.58.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, March 4th. The company reported $28.29 EPS for the quarter, missing the consensus estimate of $29.11 by ($0.82). The company had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.98 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. On average, equities research analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

About AutoZone

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.